General Motors Company · NYSE:GM
General Motors — Corporate Update (September 2011)
10 slides from General Motors's corporate update, Sep 30, 2011
Slide 1: General Motors Company 2011 GM-UAW Labor Agreement
General Motors Company 2011 GM-UAW Labor Agreement September 28, 2011 Exhibit 99.2
Slide 2: Forward Looking Statements
Forward Looking Statements In this presentation and in related comments by our management, our use of the words “expect,” “anticipate,” “possible,” “potential,” “target,” “believe,” “commit,” “intend,” “continue,” “may,” “would,” “could,” “should,” “project,” “projected,” “positioned” or similar exp
Slide 3: Key Takeaways
Key Takeaways • Maintained GMNA break-even point • Minimal P & L impact • Protected our balance sheet • Increased flexibility to add U.S. jobs
Slide 4: GM-UAW Agreement Overview
GM-UAW Agreement Overview • Key non-compensation items – Entry Level transitioned to Defined Contribution pension plan – No pension increases – Permanent elimination of “JOBs Bank” – Special Attrition Program (SAP) for skilled trades – Elimination of Legal Services Plan for active / retiree • Key co
Slide 5: Profit Sharing Comparison
Profit Sharing Comparison New (Capped) Old* (Not Capped) * Estimate based on U.S. eligible profits as defined by old plan $- $2,000 $4,000 $6,000 $8,000 $10,000 $12,000 $14,000 $16,000 $18,000 $20,000 GMNA EBIT Adjusted ($B)
Slide 6: U.S. Hourly Workforce Demographics
U.S. Hourly Workforce Demographics % of U.S. Hourly Workforce Production Skilled Total Retirement Eligible – All Types Memo: - Detroit Competitors 34% 58% 39% 17% Data as of 12/31/2010, Hourly Workforce Demographics Study • $10K retirement incentive for all eligible employees who retire between Octo
Slide 7: U.S. Hourly Labor Cost Historical Perspective
$4B $12B $8B $5B $3B U.S. Hourly Labor Cost Historical Perspective $16B $5B $11B Retiree Healthcare Active Year-End U.S. Hourly Employees (000’s) For periods prior to July 10, 2009 information is related to General Motors Corporation (Old GM), our predecessor entity
Slide 8: Historic GM-UAW Contract Settlement Economics
Historic GM-UAW Contract Settlement Economics ‘99 ‘03 Fully Loaded Active Hourly Rate CAGR For periods prior to July 10, 2009 information is related to General Motors Corporation (Old GM), our predecessor entity 6% 8% -10% -8% -6% -4% -2% 0% 2% 4% 7% 4% (4)% (8)% 1% ‘07 ‘09 ‘11
Slide 9: Estimated Expense Impact
Estimated Expense Impact $ Millions F / (U) 2011 CY 2012 CY 2013 CY Compensation Related Impact * (135) (220) (230) Special Attrition Program (Skilled Trades) (90) Elimination of Legal Service ** Estimated Expense Impact (175) (20) (20) * Includes ratification bonus, lump sum payments, tier II wage
Slide 10: Key Takeaways
Key Takeaways • Maintained GMNA break-even point • Minimal P & L impact • Protected our balance sheet • Increased flexibility to add U.S. jobs